Maryam Nawaz says Punjab’s five rivers hold ‘significant evidence’ of placer gold

Punjab Chief Minister Maryam Nawaz said on Thursday there is “significant evidence” of “sufficient quantities” of placer gold in Punjab’s five rivers.

She was speaking at the Pakistan Minerals Investment Forum in Islamabad, an event aimed at attracting domestic and foreign investment into Pakistan’s mining sector.

Where is placer gold found in Punjab, according to Maryam Nawaz?

Maryam said Punjab is the land of five rivers and that gold was “literally flowing” in all of them, particularly in the Mianwali and Attock areas.

Placer gold is gold carried and deposited by flowing water. She made the remarks in her address at the forum.

What is the Pakistan Minerals Investment Forum?

The forum aims to draw domestic and foreign investment into the country’s mining sector. Deputy Prime Minister and Foreign Minister Ishaq Dar also addressed the event in Islamabad. The chief ministers of Balochistan and Sindh attended, as did Khyber Pakhtunkhwa Governor Faisal Karim Kundi.

Maryam described Pakistan as a “pot of gold” whose wealth lies above and below the ground and needs to be explored and turned into tangible value. She said the minerals under Punjab had never been the problem.

“The wealth beneath Punjab was never a problem, never a problem, just like the whole of Pakistan, just like all four provinces and the federating units. The chaos above ground was the actual problem,” she said.

How much has Punjab’s mining revenue grown?

Maryam said the revenue of the provincial mines and minerals department has risen to around Rs40 billion from about Rs10 billion two and a half years ago. “And it is just the beginning,” she added.

She also pointed to iron ore reserves in Chiniot, which she put at 261.5 million tons.

What incentives is Punjab offering mining investors?

Describing her role as chief executive of Pakistan’s most populous province, Maryam said her job is to help investors by cutting red tape, bureaucratic delays and unnecessary hurdles. She said the government is offering a one-window facilitation system so investors do not have to run from pillar to post to complete procedures.

The provincial government is also making substantial capital investments to lower investors’ capital expenditure, so they do not have to tie up funds buying expensive land, she said. It is offering concessional financing of up to Rs5 billion and will provide solar-powered energy solutions to offset high energy and fuel costs.